Changes to Paper Filing Disempowering

Last tax season, only 7% of all Canadian tax filers filed on paper. The CRA is pushing for zero. It continues to steer the holdouts to digitized filing by adding lots of obstacles. Most recently, it is removing almost all the schedules from the tax return package it mails. This seems unfair to people who paper file because they can’t afford a computer and internet, distrust the security of online filing and those who are neither tax or computer literate. Here’s what they are up against:

It was a pleasure to participate in a live tax chat with Canadians from coast to coast before the holidays in an event hosted by MoneySense magazine. One of the interesting questions asked concerned the length of time contributors have to recover overpaid Canada Pension Plan premiums. 

With insurance and tax regulations becoming increasingly complex, some have been arguing for years that “strict liability offences” should provide a bit of relief for those who have trusted their affairs to professionals when regulations are complex and burdensome.

The allowable claim for the regular donation credit is calculated as follows, based on your qualified gifts which can include cash, publicly traded securities and mutual funds, life insurance policies, personal use property, capital property, depreciable assets, cultural and ecological gifts.

Knowledge Bureau now features 8 free trials for its online certificate course line-up, allowing professional advisors the opportunity to earn 2 CE/CPD credits per course trial. The free trials are a great way to preview course selections for you and your team.

If an employer provides overtime meals or an allowance as an employment perk, there are three conditions that must all be met to in order to ensure that benefit is not taxable.

Knowledge Bureau is pleased to spotlight Kareen Rekowski, a recent MFA designate graduate with honours achievement. Hear her story...